The Economic Implication of Italy Missing Out on World Cup

Former CONI president Franco Carraro has revealed just how much Italy’s disastrous World Cup qualifying campaign is set to cost the nation’s economy, estimating a hit of around €1 billion.
Gian Piero Ventura’s side were beaten by Sweden in Stockholm on Friday November 10, leaving their place in next year’s finals in doubt ahead of the second leg.
“It will be roughly 500-600 million, and we must see if we talk about direct or indirect. If it does, indirectly probably surpasses one billion, surely surpasses one billion,” Carraro said. “[President of the Italian Football Federation, Carlo] Tavecchio said he took 48 hours of time – he must look in the mirror, he has to evaluate the situation, and if he thinks there are psychological and environmental conditions to do so, he has to stay.
“If you think you should stay, you have to tell us exactly what you think.”